Gold Project Funding
International Tower Hill Mines raises $118m for Alaska gold project
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Mining.comAccording to a report by Mining.com, International Tower Hill Mines has successfully raised $118 million to advance its Livengood gold project in Alaska. The funding includes a $74.8 million public offering and a $40 million private placement from leading shareholder Paulson and Co., which has increased its stake to 35%. The project's technical report anticipates a $1.93 billion initial capex and a $2.35 billion after-tax net present value at a gold price of $2,500 per ounce. The company plans to use the funds for feasibility studies, permitting, and community engagement, with a focus on expanding testing to determine the recoverability of antimony from its stibnite veins.